Brown Bag Seminar
October 07, 2021
"The Impact of Property Taxation on Firms in Walloon Municipalities"
by Laura Naderimehr
PhD candidate @Solvay Brussels School of Economics and Management (SBS-EM) @ULB
latest PUBLISHED WORKING PAPERS
OUR ACTIVITY REPORT 2020 IS OUT !
2021 ANTITRUST WRITING AWARDS
Fabienne Ilzkovitz, Professor at ULB - Solvay Brussels School of Economics and Management, contributed to a paper on the macroeconomic impact of competition policy that was nominated for the 2021 Antitrust Writing Awards by the journal Concurrences and the George Washington University Law School.
2019 WARREN SAMUELS PRIZE
CEB and CERMi are proud to announce that the 2019 Warren Samuels Prize was awarded to the article “Too Many Cooks Spoil the Broth: The Conflicting Impacts of Subsidies and Deposits on the Cost-Efficiency of Microfinance Institutions” authored by Anastasia Cozarenco (Montpellier Business School, France, and CERMi), Valentina Hartarska (Auburn University, USA) and Ariane Szafarz (ULB, SBS-EM, Centre Emile Bernheim, and CERMi, Belgium).
The Warren Samuels Prize is awarded by the Association for Social Economics (ASE) to a paper, presented at the Allied Social Science Associations (ASSA) Meetings, that best exemplifies scholarly work that is of high quality, is important to the project of social economics, and has broad appeal across disciplines.
The rewarded article evaluates how subsidies affect the cost-efficiency of microfinance institutions (MFIs) while accounting for endogenous self-selection into the business models of credit-only versus credit-plus-deposit MFIs. The findings suggest that unsubsidized credit-plus-deposit MFIs have achieved optimal capacity and therefore constitute the most cost-efficient group of institutions. In addition, the unsubsidized credit-only MFIs are the farthest away from their minimum cost. Between the two polar cases, there are subsidized institutions, among which the credit-only ones are closer to optimal capacity. The results reveal the redundancy between subsidization and deposit-taking in microfinance. Combining funds from donors and depositors tends to harm cost-efficiency.